This way, it became a really unreliable escape spell, except if used before the first damage comes, except if the enemy poke you every 6-4 seconds. However, tanks without proper initiates like Galio are now happy! And it also work for gankers, flashing out of nowhere (well, from the jungle) right in the face of the poor victim and landing that initiating spell.

So now you can get your escape mechanism without wasting a summoner spell slot. However, you will loose a passive bonus that other boots would have give to you. The lower cooldown is just to compensate that you can no longer reduce it as much as before.